Downgrade to have limited impact on Puerto Rico co-ops
February 17, 2014
Puerto Rico’s co-op sector is expected to experience a “reduced impact” as a result of last week’s triple downgrade of Puerto Rico’s credit to junk by U.S. ratings agencies.
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Moody’s puts 3 Puerto Rican banks under ratings review
February 12, 2014
Several days after downgrading Puerto Rico's general obligation bond rating to Ba2, or junk, Moody's Investors Service placed on review for downgrade certain ratings of three local banks: Banco Santander Puerto Rico, Popular Inc. and FirstBank Puerto Rico.
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Gov. García-Padilla unveils measures to address S&P cut
February 6, 2014
The governor also instructed agencies to accelerate infrastructure investment plans to revive the economy. In that vein, the government has identified $800 million in public and private investment in infrastructure projects that it will push aggressively.
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Puerto Rico’s co-op sector is ‘ready to face’ downgrade
February 6, 2014
Puerto Rico’s co-ops is ready to weather the storm expected from the decision by Standard and Poor’s to downgrade the island’s credit rating to junk, contrary to other economic sectors, which may be adversely affected, industry representatives said Wednesday.
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Moody’s puts Puerto Rico G.O., other bonds on review
December 12, 2013
Almost exactly a year to the day when Moody’s Investors Service cut Puerto Rico’s credit to Baa3, the New York-based agency placed the island’s general obligation rating on review for downgrade.
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Fitch puts Puerto Rico’s GO, other debt on negative watch
November 15, 2013
Fitch Ratings placed the 'BBB-' ratings of the Commonwealth of Puerto Rico’s general obligation (GO) bonds, the Puerto Rico Building Authority government facilities revenue bonds guaranteed by the commonwealth, the Puerto Rico Aqueduct and Sewer Authority’s commonwealth guaranty revenue bonds, and the Employees Retirement System’s pension funding bonds on negative watch Thursday.
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S&P: 1-in-3 chance of a Puerto Rico ratings cut by ’15
November 6, 2013
Puerto Rico’s general obligation credit ratings could be spared from another downgrade from Standard & Poor’s at least through March 2015 if the government makes good on its commitment to rein in its structural deficit over the next two years, follows through on its plans to reduce major liabilities, such as public pensions, and upholds its revenue stream.
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Moody’s: Puerto Rico facing greater odds of defaulting
October 29, 2013
Puerto Rico is facing better odds of defaulting on its debt, Moody’s Analytics said Monday, adding that fiscal problems, high unemployment rate and a shrinking population are fueling the problem.
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Fitch: ‘Rocked Puerto Rico muni bonds hold tight’
October 18, 2013
Ratings on short- and medium-term notes issued by Puerto Rico municipal bond funds remain stable despite severe price volatility in the island's municipal market, Fitch Ratings service said Thursday.
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S&P revises outlook on Puerto Rico COFINA bonds
October 1, 2013
Basing its assessment on Puerto Rico’s declining economy and population, Standard & Poor's Ratings Services revised Monday its outlook on Puerto Rico Sales Tax Financing Corp.'s (known as COFINA) first- and second-lien bonds to negative from stable.
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A.M. Best affirms MAPFRE PRAICO’s ratings
June 3, 2013
Insurance industry credit ratings agency A.M. Best Co. has affirmed the financial strength rating of A (Excellent) and issuer credit ratings (ICR) of “a” of MAPFRE PRAICO Insurance Company, its wholly owned subsidiary, MAPFRE Preferred Risk Insurance Company, and an affiliate, MAPFRE Pan American Insurance Company, collectively known as the MAPFRE PRAICO Group.
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Fitch cuts Puerto Rico credit to near junk
March 20, 2013
Fitch Ratings downgraded Puerto Rico’s debt to 'BBB-' from 'BBB+, a notch above “junk,” following the decisions by its colleagues at Moody’s and Standard & Poor’s in recent weeks.
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S&P cuts Puerto Rico’s GO bonds ‘BBB-‘ From ‘BBB’
March 13, 2013
Citing Puerto Rico’s ongoing budget gap, New York-based Standard & Poor's Ratings Services on Wednesday lowered the government’s general obligations rating to 'BBB-' from 'BBB' — one notch above junk. The outlook is negative.
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Fitch places Puerto Rico debt on negative watch
February 22, 2013
In what constitutes yet another, but expected, blow to Puerto Rico’s fragile credit condition, Fitch Ratings announced Thursday it has placed the island’s general debt, as well as that of several government agencies, on negative watch.
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GDB’s Ferrer: ‘Credit cut is something nobody wants’
February 15, 2013
Government Development Bank President Javier Ferrer said the García-Padilla administration is “analyzing all types of measures” to address Puerto Rico’s critical fiscal problems fronted by the drained public retirement systems that are being closely watched by stateside credit agencies.
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